Energy for blockchain products is one of the main topics of discussion for the development process of the cryptocurrency industry. As Bitcoin mining is very demanding in terms of energy usage and has become even harder to do over time, Bitcoin’s proof-of-work algorithm has been altered in other, less consuming algorithms for new cryptocurrencies. Bitcoin’s influence on the energy sector is hard to overestimate. Bitcoin energy consumption is currently taking more energy than most countries on the planet. This is not just the reason for the large profits in the energy industry but also a warning for the environment, as it is a threat to the climate with an amount of 20 megatons of CO2 emission per year. The reduction of the energy consumption for cryptocurrencies is also an important task as government environmental policies may become an obstacle for the blockchain industry.
The German state-funded energy project uses DLT to enable transparent market transactions.
Siemens-backed blockchain energy platform showcases in Germany
The country seeks to innovate with help from a variety of Blockchain companies.
Germany looks to blockchain to help decentralize their energy economy
The Port of Rotterdam's Innovation Dock has been testing a high-frequency decentralized energy market for renewables since August.
Port of Rotterdam testing blockchain and AI for renewables trading
The use of renewable energy for cryptocurrency mining has seen considerable growth, according to a new report.
Report: 76% crypto miners use renewables as part of their energy mix
Will the oil cartel put black gold on the blockchain?
OPEC to cover blockchain tech in second workshop on energy and IT
Power Ledger's most recent development is a renewable energy certificate marketplace for SE Asia.
Power Ledger launches renewable energy credit marketplace in SE Asia
Uniper has implemented a blockchain platform built by Wipro to streamline its liquefied natural gas trade process.
Natural Gas-Powered Trucking Could Get a Boost From Blockchain Tech